Russia's Zarubezhneft to harvest offshore Vietnam gas field from 2025

Russia’s state-owned Zarubezhneft will begin to harvest next year the 10.03 billion cubic meter Thien Nga-Hai Au gas field, 320 kilometers southeast off the southern province of Ba Ria-Vung Tau.

Russia’s state-owned Zarubezhneft will begin to harvest next year the 10.03 billion cubic meter Thien Nga-Hai Au gas field, 320 kilometers southeast off the southern province of Ba Ria-Vung Tau.

A draft environmental impact report by the Ministry of Natural Resources and Environment notes that first exploration activities in the Block 12/11 field were conducted in 1995 by a Canadian business.

Zarubezhneft EP Vietnam B.V., the Vietnamese subsidiary of Zarubezhneft, acquired rights to the gas field in June 2023.

An oil rig offshore Vietnam. Photo courtesy of Vietnam Helicopter South.

Zarubezhneft aims to install equipment for the BK-TNHA rig (first phase) from the third quarter of 2025 to Q3/2026; and for the BK-TN rig (second phase) from Q3/2029-Q4 2029.

The capital expenditure for the project is $348.7 million: $108.7 million for BK-TNHA rig; $103.9 million for BK-TN rig; $32.5 million for equipment on CPP Rong Doi rig; and $103.5 million for pipelines.

Zarubezhneft will start exploiting the gas field starting with 149.6 million cubic meters in 2025, and receive first gas flow from Q4/2026.

The exploitation is set to peak at about 620 million cubic meters annually in 2026-2033 and fall to 26.9 million cubic meters in 2047.

Zarubezhneft has been in Vietnam since 1981 as a partner in Vietsovpetro, the Vietnam-Russia oil and gas joint venture.